Kokapet plots fetch record prices in HMDA e-auction
HYDERABAD: The Hyderabad Metropolitan Development Authority on November 24 completed the third phase of its e-auctions for prime land parcels in the Neopolis layout of Kokapet, recording the highest bids received so far for the area.
Two lake-facing plots draw top bids
Plot 18, a 5.31 acre lake-facing parcel, fetched ₹137.2 crore per acre.
Plot 17, measuring 4.59 acres, secured ₹136.5 crore per acre.
Both rates were substantially above the HMDA upset price of ₹99 crore per acre.
The two plots together generated about ₹1,356 crore in revenue for the Telangana government.
Developers extend auction duration
Around 10 national and local developers participated, pushing the three-hour window well past 4pm due to competitive bidding.
Prices in this phase reflect an 87% rise from the 2023 Neopolis auction, where the average was ₹73 crore per acre. MSN Urban Ventures LLP acquired Plot 18, while Vajra Housing Projects LLP bought Plot 17.
The sites fall within a multi-use zone with no floor-height limits and lie close to Hyderabad’s information technology and financial districts.
Officials said that ongoing infrastructure works around Neopolis have kept demand high.
More auctions scheduled
HMDA has scheduled additional e-auctions for November 28 and December 3 for more Neopolis plots. Another auction in the adjoining Golden Mile layout will be held on December 5, with upset prices fixed at ₹99 crore per acre for Neopolis and ₹70 crore per acre for Golden Mile.
Officials expect strong developer participation in the upcoming phases due to Kokapet’s location and investment potential.
